Current through Register Vol. 48, No. 38, September 20, 2024
a) Prior
to substantive evaluation of an application, the Department shall screen all
applications to determine that all requirements of the application package have
been addressed. Applicants will be notified of deficiencies in applications and
given an opportunity to correct those deficiencies through submission of
additional documentation.
b) The
Department shall evaluate applications in accordance with the policies adopted
by the Department or its Director. In evaluating applications, the Department
shall determine that all of the following conditions exist:
1)
the Applicant's Project intends to
make the required investment in the State and intends to hire the required
number of New Employees and, when applicable, to maintain the required
number of Retained Employees in Illinois as a result of that
Project.
2)
the
Applicant's Project is economically sound and will benefit the people of the
State of Illinois by increasing opportunities for employment and strengthen the
economy of Illinois.
3)
that, if not for the Credit, the Project would not occur in Illinois,
which may be demonstrated by evidence that receipt of the Credit is essential
to the Applicant's decision to create new jobs in the State, such as the
magnitude of the cost differential between Illinois and a competing state. In
the event that the Applicant is seeking an increase in the amount of the Credit
for Retained Employees, the Applicant must provide documentation evidencing
that the Applicant has multi-state location options and could reasonably and
efficiently locate outside of the State, or demonstrating that at least one
other state is being considered for the Project.
4)
a cost differential is identified,
using best available data, in the projected costs for the Applicant's Project
compared to the costs in the competing state, including the impact of the
competing state's incentive programs. The competing state's incentive programs
shall include state, local, private, and federal funds
available.
5)
the
political subdivisions affected by the Project have committed local incentives
with respect to the Project, considering local ability to
assist.
6)
awarding the Credit will result in an overall positive fiscal impact to
the State, as certified by the Committee, using the best available
data. [35 ILCS
10/5-25(b)]
7) if appropriate, an Applicant that has
moved its operations from one political subdivision in the State to another
political subdivision (and that has been determined by the Department to be an
eligible Applicant) has demonstrated that it is not claiming a tax credit with
respect to any jobs that the Taxpayer relocates from one site in Illinois to
another site in Illinois.
c)
The Department shall notify each
Applicant during the application review process regarding whether its project
is also eligible for a New Construction EDGE Credit. [35 ILCS
10/5-51(b)]
d) An Applicant may not enter into more than
one Agreement with the Department with respect to the same location or address
for the same period of time. This provision does not preclude the Applicant
from entering into an additional Agreement after the expiration of an earlier
Agreement to the extent the Taxpayer's application otherwise satisfies the
terms and conditions of the Act and is approved by the Department.
e) The Department reserves the right to
request the Committee to convene, make inquiries, and conduct studies
in the manner and by the methods it deems desirable, review information with
respect to Applicants, and make recommendations on Projects to benefit the
State. Recommendations that an Applicant's application for Credit should or
should not be accepted shall occur within a reasonable time frame as determined
by the nature of the application. [35 ILCS
10/5-25(b)]
